The popular Japanese mobile game Elemental Knights Online plans to release Gensokishi Online “Meta World” – the latest version of the online MMORPG that incorporates elements of play-to-earn (P2E), user-generated non-fungible tokens (NFTs) ) and the metavers. Gensokishi Online’s metaverse ‘Meta World’ allows players to purchase land and freely edit their creations, such as buildings and characters. The land, as well as in-game equipment, can be minted as NFTs and sold on various exchanges as it is built on the Polygon blockchain network.
The metaverse of the game represents two tokens: MV and ROUND. The MV token will be provisioned as a utility token on Polygon to be used outside of the game, allowing users to acquire various privileges such as the voting rights for game policies or the right to create in-game equipment. On the other hand, ROUND is a currency to be used for in-game economy. However, a user’s ROUND earned can be traded on decentralized exchanges as virtual currencies. Gensokishi Project aims to place the MV token on Uniswap, Quickswap and Pancakeswap by this month.
The platform will also support the next phases of the GameFi project, including the deployment of a DAO that gives players more power over the management system and more. This decentralized entity is central to the project’s Metaverse plans and is called MV.
To celebrate the announcement of Gensokishi Online Meta World and the opening of the social communities, a campaign will be launched to distribute “Limited Equipment NFT” by December 27 to all users who join the social communities, to help them develop their adventures forward.
The purpose of combining free-to-play, user-generated content (UGC) and P2E elements in the game is to allow users to start the game for free at any time, acquire NFTs, create their own characters, trade in marketplaces, and even play to earn, depending on their priorities. In addition, because it launches on Polygon, an inherently interoperable network, users can import NFTs from other blockchain games like Axie Infinity and use them within Elemental Knights Online.
Elemental Knights Online is an MMORPG (massively multiplayer online role-playing game) that originally launched in 2008 on the mobile platform and garnered more than 8 million downloads. Now Gensokishi Online “Meta World” is expected to be officially released in August 2022.
P2E is currently one of the biggest trends in the gaming industry with Axie Infinity, Arc8 and Splinterlands gaining huge popularity worldwide. However, play-to-earn NFT games have been banned in Japan’s neighboring country of South Korea, over concerns about the speculative behavior.